BEMIDJI — The West Fraser wood engineering plant west of Bemidji was one of three companies to receive part of $4.2 million in business expansion grants from the state.
The state's Department of Employment and Economic Development stated in a news release that the three projects are expected to create or retain 587 jobs and leverage more than $270 million in private investment.
West Fraser plans to renovate an existing building and improve the operating site in the small community of Solway. The operation there produces engineered wood products, such as OSB or particle board, that are used widely in construction and other industries.
The project will receive more than $1 million in financing from the state's Job Creation Fund, with the company expected to invest $137 million. The project is expected to retain 132 jobs.
"DEED's business expansion programs create unique opportunities for businesses to boost local economies by creating jobs and stimulating local markets," stated DEED Commissioner Matt Varilek in a news release. "I look forward to seeing the positive impact felt not only by these communities, but also by the companies expanding there."
Other individual projects awarded loans in this round included the Louis Industries steel plant in Paynesville and the Boston Scientific medical technology facility in Maple Grove.
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